The expert assessed the prospects of a possible agreement between the Russian Federation and the UAE on investments

If the Russian Federation and the United Arab Emirates (UAE) sign an agreement on trade in services and investments, more business opportunities for the two countries will open up. Kristina Tancyura, CEO and Managing Partner of SKY Consulting Group, Head of the Committee for work with the UAE and the Persian Gulf Countries of the Association of Exporters and Importers, told Izvestia on April 8.

The day before, the Ministry of Economic Development of the Russian Federation announced that Russia and the UAE are preparing to sign an agreement on trade in services and investments. Russian Minister of Economic Development Maxim Reshetnikov met with the Minister of Foreign Trade of the United Arab Emirates, Thani bin Ahmed Al Zeyudi, and discussed the prospects for such an agreement.

"Such an agreement implies granting equal rights to companies from both countries to open companies, branches and representative offices, as well as to provide services in all segments. For example, at one time, when such an agreement was signed in the CIS, Russian telecom operators were able to safely start providing services not only in Russia, but also in the CIS countries," explained Tancyura.

According to her, the signing of such an agreement will simplify mutual investment, because it will provide more guarantees for investors of both countries and provide an opportunity to protect investments in case of any conflict situations. In addition, the agreement will allow for the unification of certification and licensing requirements for the provision of services, which will open up more opportunities for Russian business in the UAE, and for Emirati business in Russia.

The expert drew attention to the fact that so far there are communication and bureaucratic barriers in a number of areas of interaction.

"For businesses, the most important thing is the protection of investments and the possible unification and adaptation of the two systems to each other. As of now, there are unified standards for a number of products. It is already easier to certify them in the UAE, because the standards are unified between the two countries. Such agreements strengthen the economic and foreign economic cooperation between the two countries, opening up more business opportunities for companies. Both jointly and as part of the companies' entry into the domestic markets of the Russian Federation and the UAE," she concluded.

Earlier, on March 24, it was reported that Russian President Vladimir Putin had a telephone conversation with President of the United Arab Emirates Mohammed Bin Zayed Al Nahyan. They called for further support in the implementation of mutually beneficial projects in the trade, economic and humanitarian fields of the two countries. In addition, they agreed to maintain close coordination in the OPEC+ format.

On February 19, Russian Deputy Prime Minister Dmitry Patrushev announced at the Gulfood 2025 international exhibition in Dubai that last year the trade in agricultural products and food between Russia and the UAE increased by 30%.